Ethereum broke out of the ascending triangle with volume. Then retraced to test former resistance as support. The support held confirming that Ethereum will continue its bullish trend up. The RSI trend line held as well. Measuring out the ascending triangle gets a take profit point around $245. This will probably be the top of the 3rd wave. The 5th wave up will likely test the $300 range. Furthermore, the 50 and 200 moving averages are crossing making a golden cross. Another bullish cross that happened is the Ichimoku cloud twist. Which is when the red could twists into a green cloud.
Looking at the ETH/BTC, to me ETH has a lot of room to out perform BTC as well in the upcoming weeks/months. ETH has been on support and breaking out of that big triangle its been in for over a year. All in all everything that i see with Ethereum is screaming bullish
SL: daily close below $156 TP1: $210 (conservative tp the -.618 FIB) TP2: $245 TP3: $300
Comentário
⋅
The RSI and MACD are histogram are showing bullish divergence on the daily chart. The price is in a falling wedge. Volume is decreasing as well. Eth/btc pairing should be going up soon